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and your corporate tax. where do you intend to get revenue to run your state? >> well, greta, the way we're going to do it, again, we're proposing elimination of the individual income tax and corporate income tax and the income is going to come by repealing some of the sales tax exemptions that we've granted to businesses over the years and i've had many conversations with them. they're looking for a simpler and fairer tax code and again, people in my state are pretty excited about the idea that we could eliminate the individual income tax. >> greta: i imagine though if you're taking advantage of that sales exemption tax you're not going to be particularly fond of this idea. how are you going to convince those people it's a good idea? >> well, that's the challenge we have, but again, many of these were implemented four or five decades ago. we have a different economic environment then and again, as i talk to business leaders, they said, you know what? if you can make it simpler and fairer we're willing to go
and your corporate tax. where do you intend to get revenue to run your state? >> well, greta, the way we're going to do it, again, we're proposing elimination of the individual income tax and corporate income tax and the income is going to come by repealing some of the sales tax exemptions that we've granted to businesses over the years and i've had many conversations with them. they're looking for a simpler and fairer tax code and again, people in my state are pretty excited about the...
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we have $150 billion that corporations do in tax expenditures to avoid the tax rates. so their tax rate on average is 16%, not 35%. but that's inefficient. we have to do what matt said, and tax people efficiently. if you go back to world war ii and take all the years since then, when our tax rate was 70% in the 50s and you look at periods with more than 38%, we had an employment rate that grew of .5%. when the tax rate was -- excuse me -- was 2%. when the tax rate went down to 38% or below, we grew at five%. my point is this is not taxes. what is key, let's take murderrive and regalations on businesses, they have increased. if they are paying 33% more for regulations per individual, you are not opening up the line for that star runningback to get through. i understand the simplified tax rate form. but it is focusing on small businesses and giving them the opportunity with trained, skilled workforce, not that much reg iewdle, to burst through the line. that's where the focus should be. >> eric: matt, last word? >> you gotta do something. here's -- once again, when a pre
we have $150 billion that corporations do in tax expenditures to avoid the tax rates. so their tax rate on average is 16%, not 35%. but that's inefficient. we have to do what matt said, and tax people efficiently. if you go back to world war ii and take all the years since then, when our tax rate was 70% in the 50s and you look at periods with more than 38%, we had an employment rate that grew of .5%. when the tax rate was -- excuse me -- was 2%. when the tax rate went down to 38% or below, we...
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let's bring the tax rates down and reform the tax system. let's have more pro drilling and pro energy policy. let's get some of the these regulations to make sense. we go on and on, but the thing that was amazing and i think you and i and most americans would agree with the recommendations, the president did virtually nothing with these. >> neil: a lot of administrations of commissions where they look into something and then the final report collects dusted. i always think with the president involved, if you are commission doing something really dicey, you stand behind them. they come out with a recommendation you put yours in with theirs, this unbiased and sort of boundless commission has come up with ideas, some of which i like, some i don't like but i stand by the key recommendations, yea or nay, he would be richly rewarded? >> there is a problem with that. if you look at the recommendation, things about lowering tax rates, that is opposite what the president wanted to do. he wanted to have the mirror of this group of very respected busin
let's bring the tax rates down and reform the tax system. let's have more pro drilling and pro energy policy. let's get some of the these regulations to make sense. we go on and on, but the thing that was amazing and i think you and i and most americans would agree with the recommendations, the president did virtually nothing with these. >> neil: a lot of administrations of commissions where they look into something and then the final report collects dusted. i always think with the...
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it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ jenna: right now, here is a look at a few crime stories we are watching for you today. a former ivy league professor who pleaded guilty to fatally beating his wife as she wrapped christmas gifts it getting paroled from prison. he served five years for voluntary manslaughter in philadelphia. again, getting out on parole. the f.b.i. is offering a hundred thousand dollars, a reward for the so-called ak-47 bank robber. they say the suspect has robbed banks on the west coast and is wanted for shooting and injuring a california police officer. a u.s. soldier accused of killing 16 people in afghanistan will be arraigned today for murder. his name, robert bales. he's charged with gunning down mostly women and children in two villages last march. jon: the high stakes fight over gun control now, with new fallout today after the president unveiled his plans nearly two dozen executive actions, tou
it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ jenna: right now, here is a look at a few crime stories we are watching for you today. a former ivy league professor who pleaded guilty to fatally beating his wife as she wrapped christmas gifts it getting paroled from prison. he served five years for voluntary manslaughter in philadelphia....
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. >> the shippers pay a tax to the lar boar maintenance fee for such work. in recent years the senators on both sides of the aisle, including carl levin of michiganbe complain the fund has been raided for other federal spending. >> steve brown on the banks of lake michigan. thank you. >> interior secretary ken salazzar the latest official to head out the door. they say he will leave in march. he joins the secretary of state, treasury, defense, labor and the epa chief in announcing their departures. more than 8,000 new york city school bus drivers on strike tonight. many students disabled had to find other ways to school this morning. job protection is the hang up. they put a contract with the private bus up for bid. it just got tougher to have your voice heard by the white house. taking gun control at schools for what you might consider a ridiculous extreme. grapevine explains next. >> bret: the white house quadrupleed the threshold on the signatures for the lead the people petition site. the new minimum, 100,000 signatures in 30 days. that is up from 25,000
. >> the shippers pay a tax to the lar boar maintenance fee for such work. in recent years the senators on both sides of the aisle, including carl levin of michiganbe complain the fund has been raided for other federal spending. >> steve brown on the banks of lake michigan. thank you. >> interior secretary ken salazzar the latest official to head out the door. they say he will leave in march. he joins the secretary of state, treasury, defense, labor and the epa chief in...
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obama demands the wealthy pay their fair share of taxes, but it's just another elitist hypocrite when it comes to a fair share of security. protection for their kids, and gun-free zones for ours. >> sean: and as you can imagine, the white house was up in arms that the n.r.a. mentioned the president's children in the ad, but ironically, obama didn't mind exploiting other people's kids during today's press conference. join me now with reaction, fox news contributors monica crowley and lessy marshal. wait a minute, so you didn't mention his kids, but we'll use these other kids as props and exploit them in the background here, a little hypocritical? >> not at all. >> no? >> you know i'm the mom of two kids, four and five. nobody can exploit my children except me, so, if you think anybody exploited them, and i don't think they he were exploited, it's the parents. the parents agreed, the kids sent the president a letter and sean, this is about the kids, i'm not going to start singing whitney houston "the children of our future", i promise. >> sean: and i take your point and i think generall
obama demands the wealthy pay their fair share of taxes, but it's just another elitist hypocrite when it comes to a fair share of security. protection for their kids, and gun-free zones for ours. >> sean: and as you can imagine, the white house was up in arms that the n.r.a. mentioned the president's children in the ad, but ironically, obama didn't mind exploiting other people's kids during today's press conference. join me now with reaction, fox news contributors monica crowley and lessy...
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how much is going to be tax increases. how much is going to be spending cuts. definitely going to do that when it comes to gun control. i'm told you will see a very aggressive in effect national campaign by the president and vice president going out and appealing to various constituent groups. red state and quite frankly a lot of red state democrats are up for reelection to the senate in 2014. he has to put pressure on them. immigration reform trying to mobilize hispanic voters in some of the key states. i think you will see it on a variety of issues, the whole legislative agenda the president is going to play an inside game but you a much more active outside game as well. >> take a listen to a little bit of more of your interview with david plouffe on "fox news sunday." >> if you look at president regan he accomplished tax reform. there was good second term accomplishments. a few things. one it is not like we are roaming around the white house looking for things to do. on immigration, gun safety, deficit reduction. we have a pretty stacked agenda here and i th
how much is going to be tax increases. how much is going to be spending cuts. definitely going to do that when it comes to gun control. i'm told you will see a very aggressive in effect national campaign by the president and vice president going out and appealing to various constituent groups. red state and quite frankly a lot of red state democrats are up for reelection to the senate in 2014. he has to put pressure on them. immigration reform trying to mobilize hispanic voters in some of the...
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. >> there will be no more tax-funded bailouts. period. >> years of spending under both parties add up and the debt ceiling talks of 2011 led to a budget attend off between democrats and republicans who took back control of the house of representatives in the midterms. >> is there a risk the united states could lose their aaa rating? yes-or-no. >> no risk. >> the debt ceiling was raised in august the political fight in the spot lighted on the deficit and debt problems less s&p to downgrade the u.s. credit rating for the first time in history. >> geithner steered the major economic moves in the first term and now he is stepping down. president obama's pick to replace him is jack lew, who has established a close relationship with the president. lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the coun
. >> there will be no more tax-funded bailouts. period. >> years of spending under both parties add up and the debt ceiling talks of 2011 led to a budget attend off between democrats and republicans who took back control of the house of representatives in the midterms. >> is there a risk the united states could lose their aaa rating? yes-or-no. >> no risk. >> the debt ceiling was raised in august the political fight in the spot lighted on the deficit and debt...
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taxes. that is a radical move. he wants to shift instead to a sales tax, higher sales tax, shifting from income taxes to consumption taxes. he thinks that will give the state growth, bring in employers, create jobs, make the economy of louisiana expand, and basically progress. >> he's saying if you make louisiana a great place to come, companies will come. >> yes. >> peter: and people will have work? >> yes. >> peter: but the trade-off is, higher sales tax. so the question today is, that a regresssive tax? >> yes. >> peter: as you economists say? >> yes. >> peter: what does that mean? >> everybody pays it. no relation to how much you earn. it's how much you spend. you pay tax according to what you spend. a sales tax, it tax consumption. so in that sense, yes. it is regresssive. but on the other hand, if the absence of income taxes creates a growing economy, everybody wins from that. >> peter: some states don't have income tax. >> there are seven. i'll read them, alaska, florida, nevada, sout
taxes. that is a radical move. he wants to shift instead to a sales tax, higher sales tax, shifting from income taxes to consumption taxes. he thinks that will give the state growth, bring in employers, create jobs, make the economy of louisiana expand, and basically progress. >> he's saying if you make louisiana a great place to come, companies will come. >> yes. >> peter: and people will have work? >> yes. >> peter: but the trade-off is, higher sales tax. so the...
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say they they make up 16% of the taxes collectle in the country. all the different argument. what about the concern over the country's fiscal situation. and how it factors in to this particular disaster relief bill after the house passed the $9 billion relief bill, the first tranche of relief the last two weeks. new jersey governor chris christie criticized for the delay to this point. thenate doing something two weeks ago. it seems to me that the criticism it's a blunt instrument. 1.6% of discretionary spending lop it off and throw it away. if you look at priest proposals, doing away with the legal services and you think wait a minute. there is a political agenda here being pursued by people who want to do away with the discretionary spending. the comeback has been this is the first time. you have never had a situation where disaster relief has been attached to, the compensatory cuts in the rest of the budget. >> bret: right. that is a fair point. they makebe is that to tie all of this together has not happened before. it didn't happen in katrina and it didn't happen in othe
say they they make up 16% of the taxes collectle in the country. all the different argument. what about the concern over the country's fiscal situation. and how it factors in to this particular disaster relief bill after the house passed the $9 billion relief bill, the first tranche of relief the last two weeks. new jersey governor chris christie criticized for the delay to this point. thenate doing something two weeks ago. it seems to me that the criticism it's a blunt instrument. 1.6% of...
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california, an ngry homeowner getting his version of revenge on the tax man. upset in the 14,000 tax bill and the man paying most of it in change wheeling in nickels and dimes. >> i had to borrow money and missing a few payments . my grand kids piggy bank my daughter's piggy banks and my mon yechange and a lot of people offered to help. >> the clerk surprised to say the least but accepted it after counting it. pennsylvania. penguins on parade. stars of the show waddling their way past crowds of curious family. >> she was excite we ran all the way here. >> they were wademing aroundd and they will do this every weekend through february. >> that's the fox watch in america. car lovers from all over putting the pedal to the medal and racing to scottsdale, arizona . you have to go there to get the coolest cars . it is it best to steer clearr of the auctioneer who i understand is going crazy right now . auctioning in full speed. i could listen to that all day. they will pick up that for his wife. their anniversary. good bless them. >> sale of the hot wheels expected
california, an ngry homeowner getting his version of revenge on the tax man. upset in the 14,000 tax bill and the man paying most of it in change wheeling in nickels and dimes. >> i had to borrow money and missing a few payments . my grand kids piggy bank my daughter's piggy banks and my mon yechange and a lot of people offered to help. >> the clerk surprised to say the least but accepted it after counting it. pennsylvania. penguins on parade. stars of the show waddling their way...
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if we can implement this plan with the consumption-based tax and zeroing out the income taxes we will have the best economy in the southeast which will give us many years of prosperity and job growth. bill: thank you for your time. your unemployment rate has been over 9% for far too long. we'll see how it goes in north carolina. other efforts underway, north carolina i mentioned. kansas, oklahoma with me now charles payne from the fox business network. do you like his idea? >> i do like his idea. there are a few other things by the way that weren't mentioned i. think something that is really critical is the overall country has been in a bunker men taplt whic mentality. which is natural. we need to get into a progrowth mentality. states that exist only to feed into the welfare society that removes the needle, that's why our gdp hasn't moved. these are gdp policies. businesses hire more people, invest in plants, it encourages work. right now we have a scenario where work is sort of discouraged and moving up in the workforce is discouraged. if you make less than $50,000 you almost would
if we can implement this plan with the consumption-based tax and zeroing out the income taxes we will have the best economy in the southeast which will give us many years of prosperity and job growth. bill: thank you for your time. your unemployment rate has been over 9% for far too long. we'll see how it goes in north carolina. other efforts underway, north carolina i mentioned. kansas, oklahoma with me now charles payne from the fox business network. do you like his idea? >> i do like...
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various tax proposals are taking shape that could cut taxes in a big way. matt mccall, penn financial group. steve moore, "wall street journal.". good morning. love having you on. we can talk about what the government is doing with he have too. talk about what the markets are doing with matt. stephen moore, tell me, bobby jindal in louisiana, what his idea is, that is helping to drive this headline today? >> well, bill, he wants to make louisiana one of those, join the ranks of those nine states across the united states that don't have an income tax. those are states like texas and florida and tennessee and new hampshire and washington, navy. they're doing develop economically much better. art laffer who you have on the show a lot and we do a study, called rich states, poor states we find significant growth in those that don't have income taxes. texas isp booming. florida is doing well, tennessee. louisiana wants to join the states to get more job and higher income jobs. bill: bobby jindal wants to get in on the action? >> yeah. bill: what is the effect whe
various tax proposals are taking shape that could cut taxes in a big way. matt mccall, penn financial group. steve moore, "wall street journal.". good morning. love having you on. we can talk about what the government is doing with he have too. talk about what the markets are doing with matt. stephen moore, tell me, bobby jindal in louisiana, what his idea is, that is helping to drive this headline today? >> well, bill, he wants to make louisiana one of those, join the ranks of...
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taxes were set to go up by law on january 1. some house republicans said they didn't block it for everyone and they could prevail. speaker boehner brought forth blocking increase for everyone but millionaires, they balked. what passed later is something conservatives like less. they opposed that, too and they lost. some republicans are saying they have more leverage now to force spending cuts. maybe they do. but they will need to be smart about how they use it. with the senate, the white house and most of the press againstbe them, they should not expect a fair fight. >> bret: paul ryan said they need to be careful and remember what you are saying here. you had other members like congresswoman kathy mcmorris rogers in leadership saying you do need to shut down the government and make a stand. >> if the lessons of the 1990s when the republicans took control of the house tell you anything you shouldn't talk about how you are okay with shutting down the government. i said this before. people tell pollsters they want the government c
taxes were set to go up by law on january 1. some house republicans said they didn't block it for everyone and they could prevail. speaker boehner brought forth blocking increase for everyone but millionaires, they balked. what passed later is something conservatives like less. they opposed that, too and they lost. some republicans are saying they have more leverage now to force spending cuts. maybe they do. but they will need to be smart about how they use it. with the senate, the white house...
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here is what they know, they have to have something on offer, because they got creamed on the tax issue, nothing on offer, no chips in the game. they had extension of tax rates, but they weren't passing anything, sitting around and pounding the table and weren't saying this is what we have. now it's up to john boehner and his team to coax out of this conference, who is very skeptical of him because of the deal he did on the tax rates and they look at him askance and what do you want to do, obamacare, the health care law and other things that might include giving the president a debt ceiling increase until the end of his term if he's willing to agree in big changes in entitlement programs. they've got to come up with something. >> megyn: they have to come up with a game plan. we saw with the fiscal cliff negotiations the end of the year they were divided and boehner couldn't sort of corral his house republicans to be on the same page and so now he's trying to do that and to get reelected speaker, he says i'm going to listen to you, i'll be your choice. now, the question, chris, whether y
here is what they know, they have to have something on offer, because they got creamed on the tax issue, nothing on offer, no chips in the game. they had extension of tax rates, but they weren't passing anything, sitting around and pounding the table and weren't saying this is what we have. now it's up to john boehner and his team to coax out of this conference, who is very skeptical of him because of the deal he did on the tax rates and they look at him askance and what do you want to do,...
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before the green energy companies would get tax credits. >> yes. bill: but through the stimulus law that was signed, they received money. >> oh, yes. bill: cold cash. >> called section 1603 of the american recovery and reinvestment act which is in 2009 as you mentioned. about $16 billion have been dolled out so far. 4 billion gone to the foreign companies. basically going back to a lot of them, spanish, company, spanish renewable energy company got $1.8 billion from the u.s. taxpayers to do work here in the united states. but isn't the goal here to basically spur on growth of american companies. create american jobs? sure. bill: i agree with you. that is what we thought it was for though. >> we did. bill: what that shows you this white house was dead set on pursuing a green energy policy. and they did it through a stimulus that we thought was going for something else. >> at all costs too. basically they're taking our hard-earned money at a time when we're running, about, how much trillions of dollars we're in debt right now? you're taking money to
before the green energy companies would get tax credits. >> yes. bill: but through the stimulus law that was signed, they received money. >> oh, yes. bill: cold cash. >> called section 1603 of the american recovery and reinvestment act which is in 2009 as you mentioned. about $16 billion have been dolled out so far. 4 billion gone to the foreign companies. basically going back to a lot of them, spanish, company, spanish renewable energy company got $1.8 billion from the u.s....
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say the president learned a lesson from previous battles with congress over issues like the payroll tax cut. other issues like student loan rates that were going to go up. he went out to the american people, made his case and put pressure on congress in the end won on those battles, bill. >> bill: as you know you have been reporting on republicans who seem intent on the president and vice president. some of his biggest battles may be by democrats. >> this will be decided by swing votes. joe manchin in west virginia. right after newtown he suggested that he was going to flip on this. open to gun control, maybe supporting an assault weapons ban. this week joe manchin is pouring cold water on that and seems to be back pedaling. al franken is up for re-election. today he put out statement saying in principle he supports a ban on assault weapons but didn't say he supports legislation to do that. what the fear is i'm told by one top democratic senator an assault weapons ban suggests the president is taking weapons away that plays into republican arguments like marco rubio who said this today
say the president learned a lesson from previous battles with congress over issues like the payroll tax cut. other issues like student loan rates that were going to go up. he went out to the american people, made his case and put pressure on congress in the end won on those battles, bill. >> bill: as you know you have been reporting on republicans who seem intent on the president and vice president. some of his biggest battles may be by democrats. >> this will be decided by swing...
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art laffer, architect of the reagan tax cuts in the 1980s. good morning to you. >> good morning, bill. i'm fine. bill: blackmail, what do you say? >> blackmail! i think part of the normal checks and balances in government. when the democrats have president and controlled of the senate they don't like republicans to control their spending when. republicans are in control, democrats don't like it. it is a tool used by congress to make sure that we have fair and balanced policy going forward. the one i love, bill, if you look at "the wall street journal" today they have barack obama's speech before the senate when bush was president. and how he was going to vote against raising the debt ceiling and he made this beautiful speech, all of which is perfectly correct. it just now he is on the opposite side of the equation. it is a silly argument. bill: he went on to explain as he has see things differently as senator than president in the white house. >> of course you do. >> some conservatives argue this. i want to get your feeling on this. focus on
art laffer, architect of the reagan tax cuts in the 1980s. good morning to you. >> good morning, bill. i'm fine. bill: blackmail, what do you say? >> blackmail! i think part of the normal checks and balances in government. when the democrats have president and controlled of the senate they don't like republicans to control their spending when. republicans are in control, democrats don't like it. it is a tool used by congress to make sure that we have fair and balanced policy going...
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. >> there is a lot of hard earned tax money going for unfortunately theater security. >> reporter: they are still going to useful body scanners that create generic images but they point out that travelers can opt out of the body scan with a pat down if they prefer. >> heather: you are really disappointed. >> gregg: it's my only attempt at exhibitionism, little joys in life. all right. >> heather: pricy body scanners that gregg loves is request matter of questionable government spending as president obama prepares for his second term has a lot of work ahead of him to cut wasteful spending and bring the debt under control. a new fox poll finds more than eight out of ten americans believe government spending is out of control. so what can we expect to see in the next four years. let's written bri in jamie whining o weinstein. so eight out of ten americans say we spend too much but up from 2010, 62% from 2009, regardless people think we spend too much. if you break that apart further, almost all republicans and independents and two-thirds of democrats they all agree, government spending is
. >> there is a lot of hard earned tax money going for unfortunately theater security. >> reporter: they are still going to useful body scanners that create generic images but they point out that travelers can opt out of the body scan with a pat down if they prefer. >> heather: you are really disappointed. >> gregg: it's my only attempt at exhibitionism, little joys in life. all right. >> heather: pricy body scanners that gregg loves is request matter of...
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we have 2 1/2 trillion dollars worth of tax revenue coming into the treasury every year. we can use some of that money to pay our interest on our debt. we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation, that really is talking down america. the president is encouraging congress, encouraging america to pay its bills using a credit card to pay its bills, using borrowed money to pay its bills. that credit card will never be paid off and the balance on it will never be paid down. that is dead beat behavior and that should be pointed out. by using that expression, the president is talk down america. we stand not as tall in the eyes of the world when the president uses that kind of language. >> gretchen: could it also be he was talking down to republicans because he thinks right now that he has the maj
we have 2 1/2 trillion dollars worth of tax revenue coming into the treasury every year. we can use some of that money to pay our interest on our debt. we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation,...